Dollar General Lakeland, Florida

$1,849,000
Cap Rate: 6.00%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.00%
Price: $1,849,000
Rentable Square Feet: 7,627 SF
Annual Rent: $110,952
Price PSF: $24
Land Area: 1.00 Acre
Year Built: 2016
Lease Type: Absolute NNN
Lease Term: 15 Years
Option Periods: 4, 5-Year Options
Rental Increases: 10% Every 5 Years in Options
Rent Commencement: 7/10/2015
Lease Expiration: 7/9/2030

2040 East County Road 540A
Lakeland, FL 33813

Investment Highlights

• Directly Across the Street from Publix Anchored Shopping Center
• 15-Year, Absolute Triple Net (NNN) Lease with 11 Years Remaining on Base Term
• Four, Five-Year Renewal Options with 10 Percent Rental Increases Every Five Years in Option Periods
• Surrounding National Retailers Include Publix, Walgreens, CVS, H&R Block, Papa John’s, T-Mobile, McDonald’s, Pizza Hut, UPS Store, Great Clips and Circle K
• Six Miles from Polk State College – Lakeland Campus
• Eight Miles from Lakeland Linder International Airport
• The Area’s Tourism Industry Grows Every Year Thanks to the Detroit Tigers’ Spring Training and LEGOLAND Florida – Only 18 Miles from the Subject Property

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Dollar General located in Lakeland, Florida. Dollar General offers a 15-year, triple net lease with 11 years remaining on the base lease term. This listing features four, five-year renewal options with 10 percent rental increases every five years throughout the option periods. 

The Dollar General in Lakeland is located directly across the street from a Publix-anchored shopping center. Other surrounding national retailers in the area include Walgreens, CVS, H&R Block, Papa Johns, T-Mobile, McDonalds, Pizza Hut, UPS Store, Great Clips and Circle K. 

The subject property is six miles from Polk State College – Lakeland Campus; and eight miles from Lakeland Linder International Airport. Located in Lakeland, the areas tourism industry sees growth every year thanks to the Detroit Tigers spring training and LEGOLAND Florida which is only 18 miles from the subject property. 

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